Places of implementation
Posted: Thu Jan 30, 2025 10:32 am
When choosing, most people focus primarily on price. Of course, there should be an ideal balance between price and quality, especially when working with an expensive product. Understand that if your prices are clearly higher against the background of competitors' offers, customers will run away from you very quickly.
Product price
Source: shutterstock.com
Often entrepreneurs use this sri lanka email list trick: shortly before sales they greatly inflate prices, and then demonstratively lower them so that the discounts seem huge and attractive. It is better not to do this, clients will understand that you are being cunning, and may not want to cooperate anymore. There are a number of points that must be taken into account in pricing:
Seasonality of the product . In the off-season, attract attention with discounts and promotional offers.
Different price options . Give people the opportunity to choose a suitable price. For example, sell a little cheaper in an online store than in regular retail outlets.
Set an attractive price for wholesale . This is a well-known move that allows you to attract profitable wholesale buyers.
Bonuses for regular customers . "Perks" for loyalty are always pleasant for everyone. Introduce discount cards with discounts, think over a special bonus accrual program. And be sure to promptly inform your audience about what benefits you offer and when.
Keep your finger on the pulse of your competitors . Study their products, see what analogues they have to your goods, monitor at what price and what quality the competitors sell their products. This will help you to form a more attractive offer in terms of price-quality ratio.
Apply the principle of package pricing . This is useful when purchasing several items of the same product group at once. Then the cost of each is lower than if they were purchased separately.
Regular promotions help to find new and retain old customers . When people know in advance that at a certain time they can buy more profitably, they will not miss such a chance. For example, let's say on the tenth day of each month all stores have a specific discount on everything.
Skimming the cream . This works when you are introducing a product to the market that is not there yet. Then you can set a fairly high price and profit from it until your competitors "come to their senses" and release something similar. The main thing is that the product is unique and high-quality, then it will certainly attract buyers, and you will earn a good profit.
Product price
Source: shutterstock.com
Sliding price reduction . For example, you can gradually reduce the price of an old clothing collection throughout the year. Communicate this information to customers, and they will track your entire assortment themselves, counting on profitable purchases.
Set a penetration price . This is used when there are many products similar to yours on the market. Then, to attract an audience, set a lower price at the start of sales.
Consider pricing policy in relation to companion products (i.e., related products) . One product, for example, can be sold slightly more expensive than the market average, and related products - slightly cheaper.
Provide different payment options . Give people the opportunity to pay both in cash and by bank transfer. If the assortment includes expensive items, then the provision of installments will be a big plus. Then it will be necessary to establish cooperation with several banks so that buyers can choose the most convenient and profitable ways of interacting with your company.
Product price
Source: shutterstock.com
Often entrepreneurs use this sri lanka email list trick: shortly before sales they greatly inflate prices, and then demonstratively lower them so that the discounts seem huge and attractive. It is better not to do this, clients will understand that you are being cunning, and may not want to cooperate anymore. There are a number of points that must be taken into account in pricing:
Seasonality of the product . In the off-season, attract attention with discounts and promotional offers.
Different price options . Give people the opportunity to choose a suitable price. For example, sell a little cheaper in an online store than in regular retail outlets.
Set an attractive price for wholesale . This is a well-known move that allows you to attract profitable wholesale buyers.
Bonuses for regular customers . "Perks" for loyalty are always pleasant for everyone. Introduce discount cards with discounts, think over a special bonus accrual program. And be sure to promptly inform your audience about what benefits you offer and when.
Keep your finger on the pulse of your competitors . Study their products, see what analogues they have to your goods, monitor at what price and what quality the competitors sell their products. This will help you to form a more attractive offer in terms of price-quality ratio.
Apply the principle of package pricing . This is useful when purchasing several items of the same product group at once. Then the cost of each is lower than if they were purchased separately.
Regular promotions help to find new and retain old customers . When people know in advance that at a certain time they can buy more profitably, they will not miss such a chance. For example, let's say on the tenth day of each month all stores have a specific discount on everything.
Skimming the cream . This works when you are introducing a product to the market that is not there yet. Then you can set a fairly high price and profit from it until your competitors "come to their senses" and release something similar. The main thing is that the product is unique and high-quality, then it will certainly attract buyers, and you will earn a good profit.
Product price
Source: shutterstock.com
Sliding price reduction . For example, you can gradually reduce the price of an old clothing collection throughout the year. Communicate this information to customers, and they will track your entire assortment themselves, counting on profitable purchases.
Set a penetration price . This is used when there are many products similar to yours on the market. Then, to attract an audience, set a lower price at the start of sales.
Consider pricing policy in relation to companion products (i.e., related products) . One product, for example, can be sold slightly more expensive than the market average, and related products - slightly cheaper.
Provide different payment options . Give people the opportunity to pay both in cash and by bank transfer. If the assortment includes expensive items, then the provision of installments will be a big plus. Then it will be necessary to establish cooperation with several banks so that buyers can choose the most convenient and profitable ways of interacting with your company.